Teva Pharmaceutical (TEVA) NewsBite - FDA Approval Boosts TEVA

Posted: Wednesday, November 19, 2008 11:04 AM EDT

Teva Pharmaceutical (NasdaqNM: TEVA) opened at $43.00. So far today, the stock has hit a low of $42.58 and a high of $43.78. TEVA is now trading at $43.29, up $1.10 (2.61%). Over the last 52 weeks the stock has ranged from a low of $35.89 to a high of $50.00. Shares of TEVA are trading higher today after the Food & Drug Administration approved a generic version Pulmicort, an asthma drug made by competitor AstraZeneca (AZN). Technical indicators for the stock are bullish and S&P gives TEVA a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on TEVA the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 37.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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